The CEO of Volvo Cars is bullish about the long-term potential of electric motors, but appears more cautious on solid-state battery technology.
Volvo Cars CEO Jim Rowan struck an optimistic tone on the company's EV future as it reported earnings, but shares fell.
Solid-state batteries have been mooted as having a potentially transformative effect on electric vehicles. Speaking to CNBC's Squawk Box Europe on Thursday morning, Jim Rowan said electric motors were seeing"massive improvements." While it had originally envisaged using the batteries in hybrid electric vehicles, Toyota said its"primary focus" was now centered around using them in next-generation battery electric vehicles.
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